Downwards movement continued as the Elliott wave analysis expected.
Downwards movement was expected after yesterday’s analysis and that is exactly what has happened. Targets remain the same.
An upwards breakout with support from volume suggests a new Elliott wave count.
A small bounce to end close to 2,717.15 was expected for Monday. Upwards movement has reached slightly above this to a high at 2,718.05 for the session.
Upwards movement has continued all week exactly as expected.
Price has reached the target and exceeded it by 2.47 points, but the Elliott wave structure is incomplete. A new target is calculated.
The 200 day moving average has rolled over today. It is again positively sloped.
The alternate Elliott wave count has been invalidated, which gives further confidence in the main Elliott wave count.
Another downwards day remains above the invalidation point on the main Elliott wave count. Two alternate Elliott wave counts are published for members today.